Peter Kenyon insists his group's takeover plans for Newcastle United aren't over.

Kenyon is fronting a US-based consortium and is said to be struggling to raise the cash, but committed to seeing his bid through.

In a letter sent to Toon owner Mike Ashley, Kenyon has pleaded for more time to do the deal, and no timescale has been set.

Kenyon says: "I know I speak for both of us in that we continue to share a serious determination to finalise the agreement we have to suit both parties as soon as possible in the new year.

"We have both spent many months discussing the parameters of a final deal and as you know we have also invested heavily in time and money on our various legal and financial advisors.

"I appreciate the time and effort committed to the detailed discussions by your advisors, lawyers, club, and, of course, yourself.

"I fully respect your desire to ensure the next owners of Newcastle United understand the club, football, and have the appropriate financial resources, and I am delighted that you think the investor group led by myself is the best fit.

"On my side, I would like to personally assure you that I am committed to conclude our deal as soon as possible and, while we are both perhaps frustrated that we have not progressed as quickly as we would have wished, I would like to express personal gratitude for your patience and integrity in this matter and hope we can continue our discussions in the same spirit."